FMV trade ideas
AG First Majestic Silver: Possible bullish movementI believe that trading success relies heavily upon identifying consolidation zones. Consolidation zones provide us the right direction of the market. A consolidation happens when a market move sharply upside or downside. Later, a trader can use these consolidation zones to identify patterns, whether it be continuation or reversal.
It requires attention and care. Rather than turning out to be a factory of producing signals, it is better to sit down and look for a setup. Setups are important because we are planning a trade and execute them on time. If you fail to plan a setup, then you are planning to fail.
Another advantage of trade setup is that we know where to get out and the right time to go in. Know the market. Study the price movements and make your trades.
My charts use price movements, patterns, structures and indicators such as moving averages and oscillators. Trading intelligence is combining multiple knowledge to produce a favourable trade setups and plans.
Maybe doing a Gartley patternLooks like a text book harmonic pattern. Expecting a rebound around 8.00.
AG Entry PositionBased on historical patterns after FOMC meetings announcing a rate hike, I expect First Majestic Silver to drop around 20%.
This could be anywhere from 1 week to immediately after the FOMC meeting on March 15th, 2017.
Influencing factors that would change this target:
DXY losing strength
Low GDP numbers from last week.
AG Buy Position at Support Trendline BounceAG is still considered an inverted head and shoulders in the making, as the first shoulder's resistance has not been broken.
Price will likely be bouncing from the support trendline and up to the low 13s.
Patron Alcista - Frena en el Cluster formado por Fibonacci y sale al alza.
Es un activo corrrelacionado al oro y plata que tuvieron una gran recuperacion. pero el cluster formado por el activo genero mucha fortaleza al alza.
AG Breaking the Bull FlagIn a bull market, price will spend long periods of time in overbought and very short periods of time in oversold, and short term trading is a sure way to wreck your portfolio. Trading too frequently on the indicators could leave you flatfooted and on the wrong side of a trade trying to make up for a loss.
If you are believe that we are at the cusp of a bull market in the junior miners, you should only use the momentum indicators to identify oversold opportunities where you can add to your positions. If we're in a real bull market, 'overbought' momentum indicators can stay that way for extended periods of time, and 'oversold' indicators usually last for brief durations. Take a look at some historical charts for the first half of 2016, for any junior miner, and you will see that prices spend long periods of time in overbought and very short periods of time in oversold.
The time is right to buy the dips, hold for the duration, and set reasonable stop limits in case of a black swan event that crushes all markets in unison.
I am currently accumulating positions in core miners such as Majestic Silver (AG), and this chart shows my recent buy points based on 5/10 Day Least Square and Simple Moving Averages.
Currently we appear to be nearing the end of a consolidation period that started January 5th and will probably break up/down by January 20th.
My expectation is for a bullish move upward for 5-10 days after the breakout.
AG Cup and HandleIf AG breaks resistance at $9.22, it will test $9.91. If we break that, the next test is at $11.20. My strategy is to buy a Feb $8/$11 call spread for $1.20.
AG starts a lawsuit against banks for price rigging!!!!This is the news we have been waiting for!!!
Superb news which is super positive for silver and gold.
In the coming weeks and months the market is going to absorb this news and claims should be recalculated in the share-price, what means higher prices...
Alternative Path to TopThe red and blue arrows are showing 2 alternative Paths to a substantial gain in a few months.
AG Can Move up to $12 in a MonthFor this setup to work, AG has to regain $10 quickly, ideally by the end of next week. Otherwise this setup is likely to be invalid.
If the FED only raises by 0.25, then I would say there is a 60% chance AG can reach this $12 target by the end of Jan 2017.
NEM and AG: Buying a 3.5% and 2.7% position respectively hereJust documenting this entry.
AG was Tim West's suggestion, NEM, is a good gold proxy here.
Good luck,
Ivan Labrie.
AG is a Strong Buy HereAG is undeterred by the rising dollar. A strong buy here.
Target: $12.65 in by 3/1/2016
Ag(gressive) move when breaking outFirst Majestic has held support well. Just waiting for silver to finish off its correction. When silver start its move up soon, First Majestic will break out and up.
AG - 2 dayNo confirmation yet that Primary 2 has bottomed, but the potential upside here is remarkable. Gonna need a loose stop if you use the 61.8% retrace (bottom of green box).
AG - DailyAG has unbelievable potential in this count. Wave III could go even higher, to the 161.8% extension, but I'll take even a 100% measured move to ~$97...
OPENING: AG COVERED CALLMy timing could have been somewhat better on this at the sub-12 dip, but better late than never ... .
Metrics:
Bought 100 Shares at 13.25
Sold Oct 21st 14 call
Whole Enchilada: 12.30 db
Max Profit: $170 (if called away at 14)
ROC: 13.8%
Notes: I promised myself after closing out my XME short put that I wouldn't be dipping into any more miners ... . Just couldn't help myself ... .
